Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an email. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf.The subject line of the email you send will be "Fidelity.com: "

Fidelity® California Municipal Money Market Fund

Performance

2

AS OF 2/28/2015

Average Annual Returns

YTD (Daily)*

1 Yr

3 Yr

5 Yr

10 Yr

YTD (Daily)*
0.00%

1 Yr
+0.01%

3 Yr
+0.01%

5 Yr
+0.01%

10 Yr
+0.97%

*AS OF 3/30/2015; Value is cumulative

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Education

Fund Overview

Objective

Seeks as high a level of current income, exempt from federal and California state personal income tax, as is consistent with preservation of capital.

Strategy

Normally investing in municipal money market securities. Normally investing at least 80% of total assets in municipal securities whose interest is exempt from federal and California personal income taxes. Potentially investing up to 20% of assets in municipal securities whose interest is subject to California personal income tax.

Risk

The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Interest rate increases can cause the price of a money market security to decrease. A portion of the dividends you receive may be subject to federal, state, or local income tax or may be subject to the federal alternative minimum tax. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Additional Disclosures

A mutual fund registered under Fidelity California Municipal Trust II, and managed by Fidelity SelectCo, LLC. This description is only intended to provide a brief overview of the fund. Read the fund's prospectus for more detailed information about the fund.

Risk of this Type of Fund

LOWERHIGHER

Morningstar assigns a risk level to each of its mutual fund categories. These risk levels range from 1 for those funds with least amount of risk to 10 for those with the greatest amount of risk.

How is it calculated?

Morningstar calculates these risk levels by looking at the Morningstar Risk of the funds in the Category over the previous 5-year period. Morningstar Risk is the difference between the Morningstar Return, based on fund total returns, and the Morningstar Risk Adjusted Return, based on fund total returns adjusted for performance volatility. The Category Risk Level is based on the equal weighted average Morningstar Risk of the funds in the category. Morningstar's Research Committee evaluates the Category Morningstar Risk and assigns the Category Risk Level after further qualitative judgment.

What does it mean?

This score can help you understand the risk involved with a particular Morningstar category of funds, which may be helpful in evaluating the risk associated with a specific investment. The Category Risk Level is based on the equal weighted average performance of the funds in the category. It does not reflect the risk associated with any individual fund or the relative risk of a fund within a particular Morningstar category. Because the score is based on past performance, it may not reflect the future risk of the category. In addition to risk, you should evaluate a fund's investment objective, strategy, fees and other characteristics before making your investment decision.Learn more

Prospectus Net Expense Ratio is 0.5% as of 4/29/2014 and may not include certain voluntary caps and waivers that reduce the actual expenses of the fund. The voluntary caps and waivers can be discontinued at any time.

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

1. No Transaction Fee Fidelity funds are available without paying a trading fee to Fidelity or a sales load to the fund. However, the fund may charge a short-term trading or redemption fee to protect the interests of long-term shareholders of the fund. Shares are subject to the fund's management and operating expenses. See Expenses & Fees for more information.

2. Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated and are cumulative if the fund is less than one year old. Total returns do not reflect the fund's [%] sales charge. If sales charges were included, total returns would have been lower.

3. Initial minimum investments into group retirement accounts such as Fidelity Simplified Employee Pension-IRA, Keogh, Self-Employed 401(k), and Non-Fidelity Prototype Retirement accounts are $500 or higher. There is no minimum for additional investments in any type of Fidelity fund you already own.

4. The current yield reflects the current earnings of the fund, while the total return refers to a specific past holding period.

5. Yield without Subsidy is the yield without applicable waivers or reimbursements, whenever Fidelity is subsidizing all or a portion of the fund's expenses as of the current reporting period. Absent such waivers or reimbursements, the returns would have been lower. Waivers and/or reimbursements may be discontinued any time.

6. Any holdings, asset allocation, diversification breakdowns or other composition data shown are as of the date indicated and are subject to change at any time. They may not be representative of the fund's current or future investments. The Top Ten holdings do not include money market instruments or futures contracts, if any. Depository receipts are normally combined with the underlying security. Some breakdowns may be intentionally limited to a particular asset class or other subset of the fund's entire portfolio, particularly in multi-asset class funds where the attributes of the equity and fixed income portions are different.

Under the asset allocation section, international (or foreign) assets may be reported differently depending on how an investment option reports its holdings. Some do not report international (or foreign) holdings here, but instead report them in a "Regional Diversification" section. Some report them in this section in addition to the equity, bond and other allocation shown. Others report international (or foreign) holding as a subset of the equity and bond allocations shown. If the allocation without the foreign component equals (or rounds to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.

7. The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.

Generally, data on Fidelity mutual funds is provided by FMR, LLC, Morningstar ratings and data on non-Fidelity mutual funds is provided by Morningstar, Inc. and data on non-mutual fund products is provided by the product's investment manager, trustee or issuer or the plan sponsor whose plan is offering the product to participants. Although Fidelity believes the data gathered from these third-party sources is reliable, it does not review such information and cannot warrant it to be accurate, complete or timely. Fidelity is not responsible for any damages or losses arising from any use of this third-party information.

Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.

My Mutual Funds

In order to view funds in your portfolio, you must first log in . Please note this feature requires that you have a specific type of Fidelity account, such as a brokerage account, IRA, or other non-workplace account.